Secured income during retirement

The number of pensioners and the euro amount of pensions paid is constantly rising at Varma. Our task is to pay pensions correctly and on time to an increasing number of pensioners.

A pension decision is of great significance to the future of the insured, which is why we closely monitor the accuracy of our decisions and the smoothness of our services. In 2014 we introduced a new handling system for pension applications that will improve our services for private customers well into the future.

The use of online services on the rise

Varma’s private customers are active users of our online services. The most active user group is those aged between 60 and 64. Those aged 60 and over account for 44 per cent of all users.

Applying for a pension through our website has also steadily become more popular: more than 40 per cent of all old-age pension applications were submitted electronically. In total, 76 per cent of all private customer contacts took place online in 2014.

The average retirement age of those insured by Varma is 63.6 years.

An employer can make their employee’s transition to retirement smoother through our online services. In 2014, we introduced an electronic information request service, through which an employer may provide Varma with information required for the handling of pension applications. This service has been well received by our employer customers.

Varma’s advisory phone services also received good feedback from our customers: the services were given a rating of 9.5 out of 10.

The number of pensioners on the rise

In 2014 Varma paid EUR 5.0 billion in pensions to 334,700 recipients. The number of pensioners has been rising for years due to the change in age structure and longer life expectancy.

A total of 21,051 new pension decisions were made in 2014, which is 5.8 per cent less than in the previous year. The biggest decline, 6 per cent, took place in disability pension decisions, while the number of rehabilitants continued to rise.